Sensex rallies over 450 points; metal, realty gain

The Indian stock markets opened higher on Monday after strong jobs data in the US buoyed markets across the globe. The Nifty hit 8,400 level for the first time high in 11-months since August 2015.

The BSE Sensex opened 231.33 points up at 27,358, while NSE Nifty opened 90.15 points up at 8,413.35. At 11:33 AM, the S&P BSE Sensex is trading at 27,591 up 448 points, while NSE Nifty is trading at 8,450 up 126 points.

The BSE Mid-cap Index is trading up 1.33% at 12,038, whereas BSE Small-cap Index is trading up 0.95% at 12,090.

ICICI Bank, NTPC, Tata Motors, L&T, Bharti Airtel and Hero MotoCorp are among the gainers, whereas Sunrise Asian, Jaiprakash Power Ventures, RattanIndia Power and United Spirits are losing sheen on BSE.

All the sectoral indices were trading in the green.  Some buying activity is seen in auto, realty, metal, FMCG, industrial, telecom, capital goods, banking, utilities, finance, power and oil&gas sectors are showing gainers on BSE.

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Sensex, Nifty flex muscles; infra, FMCG, oil stocks rally

The market continues to surge on support from index heavyweights. The Sensex is up 203.84 points or 0.7 percent at 27203.56, and the Nifty up 61.40 points or 0.7 percent at 8349.15. 

Dr Reddy's Labs, BHEL, L&T, GAIL and Tata Steel are top gainers while Coal India, TCS, Tata Motors and Maruti are losers in the Sensex. 

The market is in a global deflationary environment currently, says Taimur Baig of Deutsche Bank AG. Emerging markets (EMs) are in a sweet spot in this volatility. While the volatility continues in the global markets, EMs have strong growth potential. 

Baig does not expect the US Federal Reserve to hike rates anytime soon. Considering the slowing growth momentum in the US, expectations of no hike are legitimate, he says. China, which continues to slowdown, had got sidetracked due to the UK referendum. Debt realization by China will be closely watched.

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Sensex off day's high, Nifty hovers around 8250; HDFC Bank drags

European stocks came under pressure at open, as a rebound seen in UK stocks following the Brexit vote lost steam and a renewed decline in oil prices weighed on sentiment.

The pan-European STOXX 600 opened 0.5 percent down, with all sectors falling into negative territory. London's FTSE index was off 0.3 percent around the open, while the UK's domestically focused FTSE 250 index was roughly flat. Meanwhile, the French CAC slipped 0.6 percent while the German DAX fell 0.4 percent.

The Sensex rose 152.53 points to 26892.92 and the Nifty gained 47.65 points at 8251.65. About 1515 shares have advanced against 890 declining shares on BSE.

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 European stocks came under pressure at open, as a rebound seen in UK stocks following the Brexit vote lost steam and a renewed decline in oil prices weighed on sentiment. The pan-European STOXX 600 opened 0.5 percent down, with all sectors falling into negative territory. London's FTSE index was off 0.3 percent around the open, while the UK's domestically focused FTSE 250 index was roughly flat. Meanwhile, the French CAC slipped 0.6 percent while the German DAX fell 0.4 percent.

Read more at: http://www.moneycontrol.com/news/local-markets/sensex-off-day39s-high-nifty-hovers-around-8250-hdfc-bank-drags_6956701.html?utm_source=ref_article

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Drug firm Suven Life Sciences has been granted a patent from Europe and two product patents from Eurasia for a drug used in the treatment of neuro-degenerative diseases. 

In a BSE filing today, Suven Life said it has been granted "one product patent from Europe and two product patents from Eurasia corresponding to New Chemical Entities (NCEs) for treatment of disorders associated with neuro-degenerative diseases". The patents are valid through 2029, 2030 and 2031, respectively, the company added.

The market continued to hold its morning gains on the back of support from auto, pharma, IT and select banking & financial stocks. 

The 30-share BSE Sensex rose 123.63 points to 26648.18 and the Nifty advanced 45.10 points to 8172.95. 

The broader markets continued to outperform benchmarks as the BSE Midcap and Smallcap indices gained 0.9 percent and 1.1 percent, respectively. 

The Cabinet in its today's meeting has cleared mineral exploration policy and recommendations related to 7th pay commission.
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Nifty holds 8100, Sensex firm; Lupin gains 2%, Idea surges 4%

The market has maintained its uptrend in noon trade with the Nifty trading above 8100 level amid consolidation, supported by FMCG, infra, pharma and telecom stocks.

The Sensex rose 58.53 points to 26461.49 and the Nifty gained 16.60 points at 8111.30. The market breadth remained positive as about two shares advanced for every share declining on Bombay Stock Exchange.

Lupin, Hindustan Unilever, Idea Cellular, Eicher Motors and Bharti Infratel gained 2-4 percent while Tata Motors and Tata Motors (DVR) fell 2 percent each.

 Oil prices rose in Asia as a looming strike in Norway threatened to cut output in western Europe's biggest producer, although Britain's vote to leave the European Union was still weighing on markets. Brent crude futures were trading at USD 47.79 a barrel, up 1.34 percent. 

The market has maintained its uptrend in noon trade with the Nifty trading above 8100 level amid consolidation, supported by FMCG, infra, pharma and telecom stocks. The Sensex rose 58.53 points to 26461.49 and the Nifty gained 16.60 points at 8111.30. The market breadth remained positive as about two shares advanced for every share declining on Bombay Stock Exchange. Lupin, Hindustan Unilever, Idea Cellular, Eicher Motors and Bharti Infratel gained 2-4 percent while Tata Motors and Tata Motors (DVR) fell 2 percent each. Oil prices rose in Asia as a looming strike in Norway threatened to cut output in western Europe's biggest producer, although Britain's vote to leave the European Union was still weighing on markets. Brent crude futures were trading at USD 47.79 a barrel, up 1.34 percent.

Read more at: http://www.moneycontrol.com/news/local-markets/nifty-holds-8100-sensex-firm-lupin-gains-2-idea-surges-4_6940641.html?utm_source=ref_article

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